Former President Donald Trump has been fined in excess of $350million in a contentious civil fraud case.
The ruling, delivered on Friday also comes with an embargo that prohibits the presumptive Republican presidential nominee from doing business in New York for three years.
Trump’s sons Donald Trump Jr. and Eric Trump were also handed $4million fines each. They are also barred from acting as a director of a company in New York for two years.
The former president, his sons and their billion dollar company were found liable for fraudulently misrepresenting their books by inflating assets to lenders in a civil trial that concluded in January 2024.
New York Attorney General, Letitia James told the court that $370million was the appropriate amount Trump and his sons should pay in disgorgement, a penalty that involves paying back proceeds from fraudulent means.
Trump and his sons deny any wrongdoing with the Republican presidential hopeful tagging the trial a fraud and political witch hunt.
They are expected to appeal the case.
The trial judge, Justice Engoron slammed the defendants not “admitting the error of their ways.” Adding that “instead, they adopt a ‘See no evil, hear no evil, speak no evil’ posture that the evidence belies.”
